they're taking a pop today like i have not seen in a long time, 5% to the top side. nicole: people are oving it. this is welcomed. david: thank you very much, nicole. let's take a look at how the stock is finishing up, a dow day on wall street. it is a triple digit loss just under one percentage point loss. s&p 500 doing a little better. nasdaq, more than the other indices and kind of interesting, the russia wil russell 200, thaa good sign for this small and midsize stock. sandra: take a look, the

financial sector etf, just about flat. right around session lows, so even those things in a positive today dipping slightly into negative territory. david: the positive with jamie dimon, said helping to lift the market up. let's take a look at oil because we could not figure out what was happening. tracking up 1%, and ed down 1%, if anybody knows about what is happening, he does. a fair price for this oil, $75 per barrel. he will tell us why coming up. sandra: also watching apple all day long and the endocrine after a roller coaster ride. remember this stock merely entering correction territory falling 10% from its september highs which was the all-time high bouncing back a little bit, the buyers stepping in $640

level. david: sandor was talking about the bank earnings kicking off later this week. wells fargo says the number one bank analyst on the street, form and lehman brothers joining us with a preview of his top plays this earnings season. sandra: on the rise almost 19% since the lows of the year, so what stock could benefit the most if the oil rise continues? top analyst giving us his pick not just where he thinks oil prices are going but also the oil stocks themselves. david: first we will tell you what drove the market with today's data download. a big down day on wall street with the three major indices in the red, falling for the fourth straight day. posting the biggest three-day drop since back in july. energy and materials the worst performing sectors. the euro edged higher against

the dollar today snapping a two-day decline, currency rose to $1.29 erasing losses that hit a session low of $1.28. the euro rallied 7% since hitting a two-year low of $1.20 in late july. aluminum fell to the lowest level in more than a month as they hit the forecast. a session low of $2006 per ton before dropping. sandra: telling us what he is getting out of stocks and into cash. charlie smith will break down why it is time to call on telecom stocks for profit. down at the cme group in chicago. at the end of trading today we saw nearly session lows, seems like there is a lot of caution attitude coming from the marketplace right now. is this all earnings?

>> there's no reason to stay in there and risk it. the slowdown in china, lower growth, and a lot of people are concerned about europe, spain and greece requesting a bailout. if you are overweight, look to step to the side. a 50 day moving average. david: you talk about expectations, when you look at what happened with yum brands today, little pop after hours with earnings, but when investors focused in on it and found a lot of the good earnings were coming from china despite the slowdown, people began to look a little more optimistic. >> if you look at something like yum brands, people have to eat no matter what. in faaor for the average person who can afford it. if you look at larger ticket items like aluminum, alcoa,

those are big purchases and a slowdown is directly going to impact bat and not as much on the restaurants and the food side. sandra: your ear to the ground when it comes to oil prices, oil is very volatile in today's session, but we are still looking at prices around $90 level. now they're bac they are back ar barrel. >> i still think they are right in a range, the fair value given the supply-demand front fundamentals. the big risk is to the upside on geopolitical risk. you look at the confrontation with syria and turkey. a major pipeline goes through that border pumping a million barrels per day. if that is impacted anyway, oil will move up to 94, 95, even above. i don't agree with geopolitical driving the prices given the

fundamental, but it is here and something we will have to deal with. sandra: got it. we will come back to you. david: do you ever get nostalgic? good to see you. let's wring our market panel in. joining us, ace investment strategist chief trader. good to see you both. we were just talking about yum brands, the reason they did so well, much better than expectations was because of the revenue they were getting from china, from the chinese to rollout the chinese operations. that china would slow down tremendously, wouldn't it? >> chinese people love to eat.

it is a very interesting point. slowdown that china. we are seeing the worst, seven .5% growth, and from this point on reverting back and coming back up saying they're slowing down but a hard landing. stabilizing around here helping out the world economy tremendously but in my opinion still remains to be seen. i am not quite sure, china will hold 7.5% level. sandra: charlie, you see reason to play defense into the upcoming election. in fact, you say there is a way to say if romney wins or if president obama wins. what would that exactly be if there was various outcomes to the election, obviously? >> i think the chances are that capital i believe pretty much on strike for most of this year is

going to see the potential for better economy, the first year of any administration doesn't tend to be that good of a year for the market or the economy. the market would definitely see the possibility to come off the sideline in the later part of next year into 2014. your previous guest talking about how a win for obama pretty much has been discounted, but if you see it, it'll be capital sitting on its hands for the next four years. david: if in fact obama wins the election, fiscal cliff is resolved, therefore you think all this cash, we are seeing great market again, but it has been on low volumes. the thing that would change into flooded the market? >> yes, i do. even more importantly is for

romney to reverse obamacare. for small and midsize business businesses, the amount of unknowns out there with regulation, causing mid-and smmll sized businesses to fold their tent right now. that is really going to free up activity. nicole: is thei very level to wh this market can fall where you would be a buyer again? >> i'm actually long-term bullish. in a down cycle, so short-term looking at 1400 levels. about five and a half, 6%. if you look, market has gone up about 115% since march of 2009, but we have had a pullback, this

will be the 13th one. i like the 1400 level. also i like two different sectors. the precious metal. with all the money pumped into the market inflationary prices down the road, or somehow economy does not hold, there is turmoil. i agree, the energy if you look at basically very volatile going nowhere. between 80 and 110. use some kind of a mutual strategy in the middle. right now we are in the middle. david: looking at comcast, at&t, to me that sounds like a bullish economy, that is an economy ready to get going again. talking about the telecoms,

honeywell, am i right, do you think the economy is on the verge of doing better than it has been? which is minimal at best. >> sort of try to capitalize on the growth in the worldwide air-traffic but comcast has seen an improvement in the market, the cord cutting phenomenon people were so worried about with the cable business has not happened when the mother's good growth in wireless. the iphone will hurt the market in the next couple of quarters, but also get a nice price increasing driving revenues in 2013 and 2014. it ithis mostly a defensive plad the company is a little bit better way to play worldwide air-traffic growth. david: thank you, gentlemen.

sandra: jpmorgan and wells fargo kicking off earnings. who will come out on top this quarter? former cfo tells us which names you should buy ahead of the results. david: the price of oil is up almost 19% since june. what stocks will gush higher if they do? joining us. sandra: a new study shows your heating bill is set to spike this winter. but how much, we have that story ahead. [ male announcer ] at if you had thermal night-vision goggles, like in a special opsission?

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david: s&p futures closing right now, let's go back to the cme group, the big question, is this downward trend going to continue tomorrow? >> i think it will continue unless you get a sharp rebound in the overnight or ahead of the s&p opener, probably will for the downdraft continue. look for the 1400 level, that might be some kind of a support. david: let's hope so. thank you, great to see you,

appreciate it. sandra: shares of barnes & nob noble. nicole. nicole: taking a look at barnes and noble. to compete with google and amazon as well and apple, all in the tablet market but a piice of news, that could be good news for them. if phone maker but also tablet, several tablets, three of them on sale. up 8% on this news. with that, said maybe we can try to get back into it at ome point but the strategy they're using seems to be unclear, this means good news for the other troublemakers. back to you. david: oil prices rising double digits since june, and an analyst who says buying oil isn't the only way to get in on the game. sandra: the managing director

joining us now, thank you for joining us. >> good afternoon. sandra: you think we are not seeing oil prices today reflect the fundamental situation? >> oil prices are elevated by supply destruction and rocket fundamentals at $90, our benchmark price, or $112, $116 which should be significant. global demand continues, production continues to increase because of all of these things. we have not seen the full impact of the gulf of mexico output. oil prices are high.

david: the prices are going in exactly the wrong direction3 given supply and demand scenario. so what is happening here? this is all speculation? >> speculation has become part of the pricing. the government has done nothing to stop it, and we are seeing a bubble. the question is not if, it is when and by how much. it's not like in 2008, but nevertheless, it is a bubble. sandra: everybody watch me on this network knows my stance on your mention of speculators and driving of the oil prices. one is not to believe that, they've never prove that, however if you look at the fundamental situation, speculators are betting on higher prices in the future, they're looking at the geopolitical situation and the risk in the middle east right now.

they are praising that in, which is why it is a valuable speculation in the market. >> there are no dogs around. people can believe whatever they want to believe. if they come to resolution, to , hopefully a peaceful one, oil prices will sink. sandra: that is why they are high today. it is unbelievable to tell viewers oil prices are unreasonably high. you are saying they are high because they are pricing them at risk. >> if you remove this risk, we do not know what impact any reaction against iranian nuclear facility will impair. it could create a rise in oil prices. but eventually they will have to come down.

it is not going to get our economy moving. our economy is only for us to get the economy back on its feet. the question again in my view is by how much? david: we can't let it go without talking some basics about stocks. what oil companies are well positioned even if oil comes down to $75 per barrel, which oil companies could withstand that and still do well? >> they usually have less volatility, so if oil prices come down, you want to go into those companies that have the balance sheet. david: looking at chevron and murphy right now. >> these are the most highly leveraged. these will benefit if prices are high or go higher. but relative like exxon would go

down, but not as much as the energy sector in general. david: i will pay for drinks for you and sandy so i can be there and listen to a continuation of this argument, if you will on the question of speculation. great to see you again. david: constructive conversation. thank you, appreciate it. sandra: earnings season and the banks are rolling in, who will be the winners and losers? coming up, analyst fred hintz lets us know. david: and moody's rating service says the credit is. this is the company with the help of your tax dollars took over chrysler. we'll fiat been looking for a bailout soon? the story will make you boil, and it is coming next. ♪

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sandra: breaking news, shares of ruby tuesday falling after reporting minutes ago saying sales increased almost 2% at company-owned restaurants for the quarter. sales in the range of flat to 2% for the year. be sure to tune in tomorrow. liz will be back with ruby tuesday ceo who can answer all the questions abouu the recent quarter. david: even though chrysler is owned by the italian car company, president obama refers to it as a successful bailout of

american car company but now the parent, fiat, is in real trouble. moody's lowered the credit rating to junk status so our taxpayers about seagate hit for another bailout of italian car company? following the bailout since they began at the national legal and policy center. thank you for coming in. so this downgrading affects $15 billion worth of debt that fiat has outstanding. what is wrong with fiat? >> europe is still a mess. a little worrying for chrysler, but what happened was the auto industry is not as healthy as it is made out to be. very political to hear about how healthy the auto industry is but europe is still a mess. manufacturers are having trouble making money because it is very competitive and labor costs are very high.

david: first of all given 40% of chrysler in the beginning of the bailout by the administration, just 40%, in exchange for technical knowledge or kno knoww that fiat had. they took a controlling interest on it, is it conceivable, is there any way chrysler still in doubt with a lot of u.s. taxpayer dollars that fiat could dig into that pile of cash chrysler has ordered to pay off big debt because of what is happening in europe? >> yeah, they own chrysler so anything that affects fiat affects chrysler, but this all comes back to how this was structured in the beginning. bankruptcy experts were consulted instead of auto industry experts as the main goal was to protect the uaw and favorite groups. this wasn't done by what was

best for the auto industry, it was done to protect cronies and taxpayer money was dished out and now we're in a situation it turns out things aren't as great as it would have appeared to be. they were also downgraded by moody's and general motors invested i think $400 million. there is no reason for that. taxpayer money can definitely go into the european companies. there is a lot of questions. david: there are certain firewalls to make sure that cash that can be identified as u.s. cash remains untouchable, however as we know when he is responsible and people can move it around in all kinds of ways. as far as a bailout, don't think it is conceivable there could be another u.s. bailout of the u.s. car company. european union has sanctions against that kind of a bailout

but asterisk in with european monetary central bank, they changed the rules so could there be a european bailout of fiat? >> after what i saw in america with a contract law was trampled with the gm bankruptcy and chrysler bank of sea, anything is possible. it will depend on what administration is in power for how much america get involved. europe doesn't have the bankruptcy laws we have here to manipulate a process and to come out of it and pick winners and losers as to how creditors get paid off and come back as a healthy company with loads of taxpayer money as gm did. anything is possible. david: is it conceivable you can make a case the bailout was successful when it turns out the u.s. government gave 40% of an american car company to an italian company that is now rated as junk?

>> i see no way it is conceivable but the politicians campaigning on the issue are obviously saying it is successful. it is designed to fool people who have not paid close attention and don't realize how many billions of taxpayer dollars have been wasted and how little this really has done for america. the auto industry will fi survie without such drastic measures. it could have been done without billions of taxpayer dollars thrown at them. if auto industry experts have been consulted instead of think of the experts and hedge fund guys like steve ratner, followed by the union guy, you can see where this was directed. we would be in a lot better shape if they had done this based on what was best for the industry, not based on protecting the uaw. david: we have to go, but we will be following the story closely.

thank you, sandra. sandra: david, banker and kick off friday before the bell and there is still time to jum jumpg ahead of the results. but what is the right move? a top analyst to tell us what to expect next. and toyota has the largest worldwide recall ever affecting millions of vehicles. we will tell you the details ahead. nearly 1 billion people around the world

don't have enough food to survive. we can't let this happen. there is something we can do about it. please join christina aguilera and yum! brands in the movement to fight world hunger by supporting the united nations world food programme. for more information, go to fromhungertohope.com. your contribution will feed children and save lives. together, we can stop the dyin and start the living.

and together, we can move people from hunger to hope. oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. ow, your hair looks great. didn't realize ey did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "hk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners.

sandra: time for a quick speed read of some of the day's other headlines. five stories, one minute the first up, amtrak ridership hit as record high carrying 31 million passengers in the fiscal year-ending last month. ridership grew 3.5% over last 12 months compared with the previous budget year and

ticket revenues jumped nearly 7%. maybe they can finally make some profits soon. toyota recalling nearly seven and a half million vehicles worldwide over a power window switch. the recall affects cars in the united states, china and europe. the toy departments will be open through january and in key u.s. markets including california, florida, illinois, building its own video hosting technology sources. sources say users would be able to up load video directly to the site via the services mobile apps. heating bills are expected to take a big jump this year. a recent report by the energy department expect bills to climb 15% for natural gas customers, 19% for heating oil customers. that is today's speed read. [buzzer] david: right on time. way to nail it. banks are set to report third quarter earnings this friday will wells fargo, citi, jpmorgan, bank of america will report

at beginning of next week. sandra: what can investors expect and what names should you get into now? we have brad hintz, former lehman brothers ceo or cfo. the reason i didn't want to most that up to put emphasis on it you are inside this industry. you know it very well. and here we're looking at bank earnings. what are you expecting especially friday when we kick things off for the financials? >> in terms of the quarter, right, we're going to have much better fixed income. that is really qe3, right? once the europeans kick their can way down the road then the fed said we're going to buy bonds. you have the yield curve that flattened. the fixed income side looks very, very good. retail investors are lining up to buy bonds. that may not be a prudent decision but they're lining up to buy bonds. sandra: good for the banks. >> so for the fixed income divisions which go through a slowdown in the summer they will be modestly up. that will be story.

debt capital markets will be good. debt underwriting. fixed income will be good. what will be weak? well unfortunately retail brokeage will be profoundly weak. retail brokers, fas, are fundamentally twiddling their thumbs because the retail investors have not reembraced the market yet. david: the market has been up granted on very weak volume. you say building on your theme of fixed income we're in a fixed income cycle right now. >> yes we are. david: when do we break out, when does all the money on the sidelines begin to crowd in volumewise on the market. >> i'm an equity guy. i would love that. david: what needs to happen? >> we need an economic recovery. not uncertainty we have now. for the retail investor, to get them back the closest correlation what drives retail investors is nonfarm payroll.

when you see retail pick up investors will say, i'm going to take a risk. david: do you believe the numbers on friday. >> i'm a little skeptical. one number doesn't give a trend. retail, think back to another crisis, crash of '87. market goes down for a year. retail investors did not come back for four years. so you scare them out in iowa, you know, they keep their money in the mattress. finally they come back when they're comfortable that the economy is okay. sandra: i want to piggyback on something you just said. you said we need beginning of economic recovery. do you not believe we're in recovery right now? >> qe3 is not an endorsement the economy is boom beinging right? q e3 is being done to make sure the stumbling recovery continues. unfortunately the qe3 wasn't done because the economy is booming. the european kick the can down the road is not being done because europe is fixed. unfortunately that says fixed income is the name of the game. david: i have to ask

specifically about the banking sector because today we had jamie dimon. nobody speaks like jamie dimon. he's a brilliant speaker and he apparently did calm the markets. jpmorgan's stock was up quite a bit today. he says basically the banking industry has stablized in the united states. is he right? >> oh, absolutely. if you look at the capital structure they're perfectly fine. they're addressing the issues which is they're all addressing the regulatory issues. will they be able to make money in this new regulatory environment? we're confident they can. our favorite stock is goldman sachs. goldman, trading firm, market said you will never be able to beat your cost of capital in trading. well, markets are repricing. goldman is changing their trading floors. they're automating. they're cutting compensation. they're bringing inventories down in terms of getting rid of risk-weighted assets. they're doing the right stuff the other stock we like is citi. the reason we like citi

because flattening yield curve is good for the mortgages they have in the bad bank. sandra: the stock is up year-to-date, 33%. jpmorgan up 25. morgan stanley 15. citigroup is the sleeper. >> vikram is doing very good job. if you think of citi, citi is a bet on continual low rates, narrowing credit spreads. that's the bad bank. but it is also a bet on the growth of the international markets. that is the good bank. that's what they're focusing on. that is nice little mix there. david: did you buy goldman down at $90? >> remember i'm an equity analyst. i can't do that. david: i'm sure you recommended to somebody. >> yes, i did. david: thanks, brad for coming in. sandra: one tech company has seen its stock rise 95% over the last year, helping companies monetize their online advertising but with more consumers moving to mobile, can the run continue? we'll talk to the ceo of lucora. that's next. david: another u.s. bank is

threatened as hackers continue their attacks on our financial institutions. is your money safe? details straight ahead.

>> i'm robert gray with your fox business brief. stocks fell as corporate profit outlooks and the federal reserve's latest assessment of the u.s. economy did little to soothe growing concerns over the globe economy. red arrows across the board. mcgraw-hill may soon have bids for its education unit. reuters reported private equity firms including bain capital and apollo global management may be making their final plays for the unit at the end of this month. mcgraw-hill may decide not to sell but spin off the

unit if it bids fail to meet its price target the more than $3 billion bucks. wall mart doesn't expect a drop off in consumer gdp or spending. it plans to open smaller neighborhood stores and expanding the e-commerce business with a same day delivery test for the holidays. the stock was at a record high today. that's the latest from the fox business, giving you the power to prosper

david: the internet search company blucora is transforming its business pushing beyond the search space as its stock soars more than 50% nearly this year. sandra: will a massive move to mobile hurt blucora's search growth? here in fox business exclusive. the ceo and president. bill, thanks so much for joining us. if people don't know what your company is, you have got two leading internet companies. one is search and one is tax assistance online. and your online search

probably has a lot of people wondering how you monotize from your search viewers since there is so much public interest in facebook and others how are you monetizing your search business? >> blucora owns two businesses as you mentioned. info search has long been in the search market, particularly sising partners, a network of 100 partners as they look to find search utility monetizaton for consumers. that is our point of differ rent ages is working in a different way. tax act is in different market. it is in the consumer do it yourself in the tax preparation software business. we're excited about both businesses. david: blucora has had quite a history. it survived the dot-com bust, reinventing several times. looks like it is sort of reinventing itself this time getting involved in a very competitive field. going up against turbotax,

h&r block. you succeeded before. how difficult is it to redefine where the company is going? >> well, certainly the, infospace history is one that dates back to the mid-'90s in terms of the company forming and later going public and through the course of its history it has own ad number of different businesses all having common charactertics in that they're become online and digital markets. more recently, as you mentioned we acquired tax act and announced that earlier this year. it is a wonderful business that's focused, we discussed in the tax preparation software business, really focusing on consumer empowerment and providing tools for individual tax-filers to perform the annual right that is called tax filing. and we also, there's a component of that business that also assists paid professionals as they look to help individual filers file their tax. >> so, bill, with infospace,

is it safe to say you make your money by people clicking on your ads on your search site? >> that's correct. that's correct. not unlike major providers, excuse me, like google and yahoo!. the model is one where the revenue generating activity is defined by somebody clicking not just on a search result but a paid search result. sandra: so that being said the whole point that you're moving into the mobile business because you see that as the future. how are you going to make money on that? >> so, what we're viewing as being an opportunity in mobile is certainly that is a well-documented consumer trend is the prevalence of tablets and smartphones the way we see that is more from an incremental standpoint which is, there's just a greater opportunity and across a greater number of touch points for consumers to interact digitally with content and information. we want to make sure we're there with them. and so, in the case of info station, we want to make sure we're staying in front

of our partners through smart application of our search services on to tablets and on to smartphones. in the case of tact act, certainly adapt -- tax act, adapting tax preparation work flow and process such that consumers can seamlessly prepare their tax filings both in the desktop environments and as well as mobile environments. that will be critical. david: best of luck to you, bill. from blew core a. good to see you. >> thank you. >> banks getting hit by jihadist cyber attacks. they're keeping some customers from accessing accounts. who knows what other damage is being done. the banks no more attacks are coming but can they fight it? we're all over the story, david. david: is my money safe? sandra: is your money safe.

sandra: let's get back to a developing story that fox business has been covering since day one and it could be affecting you, hackers targeting big banks. david: the most recent bank attack? suntrust. so who could be next?

adam shapiro has been all over the story with the very latest. adam. >> suntrust is the bank that was attacked today. we interviewed michael chertoff the former secretary of homeland security on fox today. about why the denial of service attacks are a serious threat. here is what he said. >> the serious side would be if they took the customer facing side off-line a day or two or three, people wouldn't have access to their money, that could precipitate a panic. what we make sure you don't compromise the trust people have? banking system. >> these attacks usually last for a few hours and then the hackers stop the attacks. suntrust declined additional comment other than to confirm some customers are having trouble. tomorrow's target according to the hackers is regions financial. they gave us a statement. we take online security seriously and are taking

every measure to protect the company and our customers. back to you. sandra: thawing, adam shapiro. david: well we have the number one figure that could move the markets tomorrow. plus --. sandra: one of these regions is the wealthiest in the world. we'll tell you which. take a guess. that's coming up ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help docrs turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it.

david: time to go "off the desk." move over europe.

asia is being taking over. credit suisse releasing the global wealth report. for the first time asia was ranked the wealthiest region in the world. the debt crisis cost the reigning champ, europe to lose its title, taking number two spot. north america came in at number three. we can do better than that. asia may be the wealthiest region, switzerland is still the richest country per capita in the world. off the desk, there is trouble in got that many city. the joker is back. the villain hasn't been seen on the pages of batman since d.c. relaunched comics in december. that all changed today. batman number 13 is on a mission to help him become a better man. attempted murder and psychotic ramblings. what else would you expect. dc comics is a part of time warner. david i hear comicon in new york city is sold out. david: sold out. i understand stan